The​‍​‌‍​‍‌​‍​‌‍​‍‌ service-based company BrightPath Solutions was struggling with its high repayment schedule. The company had a total debt of $21,600 and was paying as much as $15,000 every week. This left very little money to cover the day-to-day operations of the business.

It is evident from the owner's call to us that the business needed urgent financial restructuring to avoid collapsing. Our team, after examining their circumstances, negotiated with the creditors to draft a more feasible plan. Although the debt was renegotiated to $21,400, the most significant relief was brought about by the new payment plan - $350 per week for the first 4 weeks, $500 per week for the next 4 weeks, and then $750 per week ​‍​‌‍​‍‌​‍​‌‍​‍‌thereafter.

Such​‍​‌‍​‍‌​‍​‌‍​‍‌ a staged payment was very valuable to the owner in terms of being able to reconstitute the cash flow and stabilize the business. BrightPath Solutions, with the alleviated financial strain, returned to its core business of serving clients, maintained sound expense management, They started planning for future growth.

The total balance change was minimal, but the restructured payment plan had a significant impact. At present, the enterprise is going smoothly and can fulfill its obligations to the creditors. Stability here is not about lessening the debt but rather about coming up with the right plan to handle ​‍​‌‍​‍‌​‍​‌‍​‍‌it.